GOLD
Gold futures logged slim gains in the domestic market on Friday amid hopes that physical demand for the precious metal may pick up after India, the world’s second biggest bullion consumer eased import restrictions on gold as the country’s central bank enabled more players to import gold. However, a spate of mostly positive US economic data including housing, manufacturing and leading indicators tempered safe haven demand for the bullion, curbing gains in gold futures. Gold futures for June 2014 contract, at MCX, is trading at Rs. 27,269 per 10 grams, up by 0.10 per cent, after opening at Rs. 27,295, against the previous closing price of Rs 27,241. It touched an intra-day high of Rs 27,349.

Base Metals & Energy

D A I L Y B U Z Z

COPPER
Copper futures rose in the domestic market on Friday as investors and speculators booked fresh positions in the industrial metal as manufacturing output in the US rose at the fastest pace in three years as the gauge measuring manufacturing rose to 56.2 in May from 55.4 in the previous month, with a reading above 50 signaling expansion, Markit said, lifting the demand outlook for industrial metals. The index of US leading indicators rose for the fourth month on the trot, up 0.4 per cent in April 2014 from the previous month when it climbed 1 per cent. At the MCX, copper futures for June 2014 contract is trading at Rs. 409.80 per 1 kg, up by 0.58 per cent, after opening at Rs. 408.50, against the previous closing price of Rs. 407.45. It touched an intra-day high of Rs. 410.20.